Down Payment Assistance
Funds Available
Down Payment and Closing Cost Assistance

The City of Memphis is providing up to $10,000 to help homebuyers with down payment and closing costs to complete the purchase of a home inside the city limits of Memphis. Programs are available for first-time homebuyers and for existing homeowners wanting to sell their current homes and upgrade or downsize to a home that better fits their needs.

Income Limits


# in Household CWDPA, MHA, MHC Income cannot exceed 80% AMI* HIP Citizens Income must be more than 80% but not exceed 200% AMI*
1 $33,700 $84,200
2 $38,500 $96,200
3 $43,300 $108,200
4 $48,100 $120,200
5 $51,950 $129,000
6 $55,800 $139,500
*Area Median Income as determined by HUD
Programs
Down Payment Assistance Program Process
 
Citywide DPA * Memphis Housing Authority DPA* Memphis Housing Connect DPA

-first-time homebuyers with income not exceeding 80% median income, purchasing inside the city limits and meeting specific program eligibility requirements.


Homebuyer Incentive Program - Citizens
-homebuyers with income between 81% - 200% median income purchasing in designated areas inside the city limits and meeting specific program eligibility requirements.

Homebuyer Incentive Program - Police, Fire and Teachers
-homebuyers meeting employment requirements, purchasing inside the city limits and meeting specific program eligibility requirements. No income limits.

Effective August 1, 2016

Copyright 2017 City of Memphis
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